MONTREAL, Feb. 11, 2019 /CNW Telbec/ - Mondias Natural
Products Inc. (TSXV: NHP) ("Mondias" or the
"Corporation"), a Corporation that specializes in the
commercialization and development of evidence based botanical
products for the health care and bio agriculture markets, announces
that its Board of Directors has approved an amendment to its stock
option plan to become effective upon approval by the shareholders
of the Corporation at the Annual General Meeting of shareholders to
be held later this year and upon receipt of final approval by the
TSX Venture Exchange Inc. A copy of the proposed Stock Option Plan
will be available from the Chief Executive Officer of the
Corporation upon request and will be attached to the Information
Circular to be filed on SEDAR, at www.sedar.com, for the upcoming
Annual General Meeting of the shareholders.
The Corporation proposes to replace the fixed 20% stock option
plan with a rolling 10% stock option plan. Under the rolling 10%
stock option plan, the Corporation may grant options to acquire
common shares of the Corporation equal to 10% of the issued and
outstanding shares from time to time subject to the terms and
conditions prescribed by the TSX Venture Exchange Inc. and
applicable securities laws.
Currently outstanding options to purchase common shares of the
Company granted prior to the amendment will continue to be
exercisable and will be governed by and subject to the terms of the
amended plan.
Based on the Company's current issued and outstanding common
share amount of 63,135,805, the amended rolling plan maximum is
currently 6,313,581 common shares. Prior to the amendments to the
plan, the fixed plan maximum was 400,408 common shares.
On January 22, 2019, the Board of
Directors had approved the grant, subject to shareholder and
regulatory approval, of incentive stock options under the amended
2019, 10% Rolling Stock Option Plan to the directors and officers
of the Corporation for the purchase of a total of 2,550,000 shares
in its capital. The options are exercisable before January 22, 2029, at the price of $0.235 per share (the closing price of the shares
on January 21, 2019). The stock
options vest over a 3-year period, with the first vesting period
delayed until all regulatory and shareholder approvals are
received.
About Mondias Natural Products Inc. Mondias
specializes in the commercialization and development of evidence
based botanical products for the health care and bio agriculture
markets. The company is already selling both oral and topical
botanical agents to help manage unmet medical needs through Holizen
Laboratories, one of its divisions. Mondias is also developing
botanical based specialty fertilizers for use on household plants,
urban gardens, lawns, golf courses, nurseries or greenhouses in
collaboration with McGill's Faculty of Agricultural and
Environmental Sciences.
For more information, visit : mondias.ca
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Mondias Natural Products Inc.